China’s stock market crisis hits benchmark India’s Sensex, down by 400 points

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New Delhi/ Mumbai, July 08 (ANI): China’s stock market crisis hit India’s benchmark Sensex, down by 400 points on Wednesday (July 08). Both the major stock exchanges, the BSE (Bombay Stock Exchange) and the NSE (National Stock Exchange) took a plunge, leading to many major companies like Vedanta and Tata Steel suffering loses. Market expert, Sunil Shah, said that ripples in Chinese market will have noticeable impact on Indian economy. Chinese stocks plunged on Wednesday after the country’s securities regulator warned investors were in the grip of “panic sentiment” and the market showed signs of freezing up as firms scrambled to escape the rout by having their shares suspended. The Greece debt crisis which has headed to a new level post the Greek referendum, too, has played its part in affecting the Indian markets. However, its impact is not as serious as was expected earlier. Another market expert, Akash Jindal, said that the issues plaguing China as well as Greece have troubled India’s economy as all major economies are virtually tied to each other and a major crisis in one economy would have its impact on the other.

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